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New Japanese insurance rule will impact small owners more
A new requirement for vessels entering Japanese waters to have P&I liability cover has been cited by an industry executive as a good idea but poorly implemented, adding that the ruling will impact smaller shipowners most.
Shanghai Port plans to raise US$800m in HK
SHANGHAI International Port, the world's third-busiest hub, is preparing a Hong Kong listing this year that could raise about US$800 million to fund its ambitious expansion plans and capitalise on China's key position on global trade routes, according to a report in the Financial Times.
Correction
IN the report 'NOL cargo volumes jump 17% in six-week period' on Jan 25, we incorrectly identified 2004 cargo revenue as US$2,532 per FEU .

Admiralty Casebook

Surveyors must provide port safety data
THE owners of Tasman Spirit won an important ruling under the UK Arbitration Act last month to compel a third party to provide documents on the safety of the port of Karachi where their tanker grounded in 2003 causing them significant losses.

Port Shots

Port Shots
ORIENT Overseas International Ltd, a shipping company controlled by the family of Hong Kong chief executive Tung Chee-hwa, said its container unit's sales rose 28 per cent in the fourth quarter last year as it handled more cargo.

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Shipping News

New Japanese insurance rule will impact small owners more
A new requirement for vessels entering Japanese waters to have P&I liability cover has been cited by an industry executive as a good idea but poorly implemented, adding that the ruling will impact smaller shipowners most.
Shanghai Port plans to raise US$800m in HK
SHANGHAI International Port, the world's third-busiest hub, is preparing a Hong Kong listing this year that could raise about US$800 million to fund its ambitious expansion plans and capitalise on China's key position on global trade routes, according to a report in the Financial Times.
Correction
IN the report 'NOL cargo volumes jump 17% in six-week period' on Jan 25, we incorrectly identified 2004 cargo revenue as US$2,532 per FEU .

Admiralty Casebook

Surveyors must provide port safety data
THE owners of Tasman Spirit won an important ruling under the UK Arbitration Act last month to compel a third party to provide documents on the safety of the port of Karachi where their tanker grounded in 2003 causing them significant losses.

Port Shots

Port Shots
ORIENT Overseas International Ltd, a shipping company controlled by the family of Hong Kong chief executive Tung Chee-hwa, said its container unit's sales rose 28 per cent in the fourth quarter last year as it handled more cargo.

web site

Shipping News

New Japanese insurance rule will impact small owners more
A new requirement for vessels entering Japanese waters to have P&I liability cover has been cited by an industry executive as a good idea but poorly implemented, adding that the ruling will impact smaller shipowners most.
Shanghai Port plans to raise US$800m in HK
SHANGHAI International Port, the world's third-busiest hub, is preparing a Hong Kong listing this year that could raise about US$800 million to fund its ambitious expansion plans and capitalise on China's key position on global trade routes, according to a report in the Financial Times.
Correction
IN the report 'NOL cargo volumes jump 17% in six-week period' on Jan 25, we incorrectly identified 2004 cargo revenue as US$2,532 per FEU .

Admiralty Casebook

Surveyors must provide port safety data
THE owners of Tasman Spirit won an important ruling under the UK Arbitration Act last month to compel a third party to provide documents on the safety of the port of Karachi where their tanker grounded in 2003 causing them significant losses.

Port Shots

Port Shots
ORIENT Overseas International Ltd, a shipping company controlled by the family of Hong Kong chief executive Tung Chee-hwa, said its container unit's sales rose 28 per cent in the fourth quarter last year as it handled more cargo.

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Shanghai port company to raise funds through HK IPO JT International handles 39pc more containers in 2004 Cosco Shipping vessels pass safety inspections P&O sells property in Germany PHA has best year ever in 2004 Mauritius promoted as Indian Ocean hub CTN China partner gains Class-A foothold in Shenzen Mishler becomes Vancouver's new terminal manager Singapore Airlines Q3 profit rises Air China buys 20 Airbus planes Malaysia Airlines opens Hangzhou warehouse Asian, ME airlines face labour crisis, says study

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ONGC still sees black gold in shipping JVs IWAI to install night navigation facilities along NW 1 & 2 in 2 months NYK Line (India) Ltd awarded ISO 9001:2000 certification Shreyas Shipping plans to buy 10-15 more boxships over 2 years India, Malaysia target $ 10-bn trade in 3 years Kandla Port Trust Board may clear RFP draft tomorrow Exim trade invited to utilise facilities at ICD-Bhadohi Make availability of export credit flexible & liberal, urges fieo Exim Bank to focus on apparel, marine sectors Maran invites Japan to invest in Indian telecom sector Dumping duty on narrow woven fabrics from China, Taipei 29 Customs & excise officials selected for Presidential award of Appreciation Certificates

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JANUARY 27, 2005
New-generation bunker barge on the move Total Belgium has taken a new-generation 'mega' bunker barge on time charter from Wiljo. Tokyo players wait on February allocations Traders hope fuel oil premiums compared to other ports in the region will drop to encourage more business. Singapore supply outlook improving Growing fuel oil stocks and further cargo arrivals set to ease tight bunker market and reduce bunker premiums. High-sodium cargo returned from Japanese trading house Japanese trading house named as the buyer from which oil major ExxonMobil has agreed to take back a high-sodium fuel oil cargo, while other buyers sourced problem fuel directly from refinery. Singapore: Trader leaves

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NYK commits to e-commerce procurement EU: Barrot wants memorandum of understanding for ERTMS BDP establishes Korean logistics unit New members for Community of European Railways Austrian Airlines launching three daily Basel-Vienna flights Iran-Europe shipping line to open in spring Norton new Manhattan Associates senior vice-president and CFO

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JANUARY 27, 2005
Panama fleet numbers rise Nordic American Tanker profit soars Euronav buys chartered VLCC ICTSI to run Naha terminal

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JANUARY 27, 2005
Tax changes give International Shipholding results a $7.7 million boost Kirby reports record earnings WCC satphones aid tsunami relief effort

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JANUARY 27, 2005
First IMO members states Ok new ballast water convention Study finds Port of Seattle facilities bring jobs, dollars, taxes to region Boeing employee donations top million dollar level Olympia Port Commission taps new slate of officers Corps finds Nasalle Quarry rock not suitable for Columbia River jetty

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New British nuclear cargo ships planned BRITISH Nuclear Fuels has scrapped Pacific Swan, one of its fleet of purpose-built nuclear cargo carriers, and is asking for expressions of interest to build one or two new vessels. Mitropoulos opens dialogue with EU commissioner Borg INTERNATIONAL Maritime Organisation secretary-general Efthimios Mitropoulos has met Joe Borg, European commissioner responsible for fisheries and maritime affairs. Cheniere unveils giant LNG facility blueprint Cheniere Energy has unveiled plans to construct North America's largest liquefied natural gas import terminal, a facility capable of handling the biggest vessels on the drawing board. CMA CGM ditches French flag plan for new quartet FRENCH liner company CMA CGM has axed plans to put four newly ordered vessels under the French flag, opting instead for the British flag.

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JANUARY 27, 2005
Freak wave disables cruise ship THE cruise ship Explorer (ex-Olympia Explorer), which was disabled yesterday by a 15m wave that broke through the bridge windows and damaged vessel controls, has restarted a second engine Singapore awards LNG study contract SINGAPORE has commissioned Tokyo Gas Engineering to conduct a feasibility study on the import of Liquefied Natural Gas Singapore enhances medicare SINGAPORE has upgraded medical facilities for seafarers by offering "one-stop" services ICTSI wins Naha operations NAHA International Container Terminal (NICTI) has signed an agreement with Naha Port Authority, Japan to operate two of its container terminals French strike hits ferries, again A STRIKE by French seamen has again led to ferry services between Dover and Calais being suspended today New US LNG berth proposed CHENIERE Energy revealed plans for its fourth and largest LNG facility today, when it filed for permits to build a $900M terminal in Louisiana, US Maasvlakte Twee postponed LNG infrastructure ahead of demand Congestion builds at Mombasa Barcelona gives Carnival the nod Record results for BHP Billiton Seafrance rides freight growth French seek saviour for SNCM Volgotanker wins tax reprieve CNAN execs arrested after sinking No Diamond sparkle for Radisson

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JANUARY 27, 2005
UPS slips in fourth quarter Misses earnings forecast as domestic package volume dropped sharply and operating costs rose. OOCL revenues climb Revenues in the fourth quarter rose 28.2 percent from a year ago on strong intra-Asia trade. NY/NJ should protect maritime development: Devine Halifax cargo volumes flat in 2004 ISC income up on tax switch Canadian Pacific net down Federal probe into ABX air hub USSEC holds fuel, currency charges WTO calls for Japan trade reforms World Airways signs service agreement Incomplete grades for Homeland Security

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JANUARY 27, 2005
Dutch High Court trashes second Maasvlakte scheme Rotterdam's second Maasvlakte plans were set back this week when the Dutch High Court rejected environmental compensation-plans and rejected the proposed 750ha marine reserve area, in which fishing is banned. South Africa sets below inflation port tariff rises Container handling tariffs at South African ports will increase by 5.7% and cargo tariffs by 1% from April 1, the state-owned transport utility Transnet said today. Government control stifles China's rail development Vienna breaks 200,000TEU barrier Rail Cargo Austria to take over Oekombi Hutchison to examine feasibility of Gujarat ports Fourth-place Charleston reaches 1.86m TEU in 2004 Samskip newbuilds to add reefer room to fish trade Baltic-Transit partners plan a second eastern route HK customs seized pirated DVDs in a logistics company Shreyas orders feederships from Singapore yard Naha Port to be operated by ICTSI WTSA recommends freight rate increase for NOS cargo Norfolk Southern-funded home environmental inspections finish today

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JANUARY 27, 2005
The elephant in the room Did Frontline's interest in General Maritime help bring about new dividend policy? Suezmax sweetness Nordic American earned $94,000 per day TCE on spot business in 4th quarter. GMR upgrade Morgan Stanley sets $53 price target on dividend news as stock soars in first hour of trading. $6.74 per share? That could be the 2005 payout to Genmar holders under new dividend policy if one analyst's forecasts hold up. Freak wave hits college ship A floating campus with 990 people on board is limping towards Midway Island after being hit by 50ft wave. No deal! Competing bidder for Georgia Shipping claims nothing signed and sealed in sale of national carrier. IPBCC plots rises Indian subcontinent box rates to increase three times this year as owners' costs rise. Excel plots course Christopher Georgakis aims to lock in returns on recent acquisitions and play the rest of his fleet spot. Armstrong emerges as Georgia buyer ASP will take over management of fleet on behalf of new owner. DIS row heads for Brussels Dispute over crew wages set for European Court of Justice in equal pay campaign. Euronav buys chartered VLCC Belgian owner finally seals deal for Dr Peters' 1996-built Bourgogne for $58.8m. Champion deal confirmed Bergen owner buys two Laurin Maritime tankers, plus a third from Greece. P&O set for Singapore Carnival subsidiary to base Pacific Sky in Lion Republic for three months next year. Trasmed turns a profit Spanish ferry owner logs 71% rise in earnings during 2004. Great day for Great Eastern Indian owner announces doubling of profit in third quarter thanks to massive tanker earnings. Irving Oil fined Canadian oil major forced to pay out CAD15,000 over February 2004 pollution incident. Genmar shares the wealth New York owner ends holdout and joins the dividend crowd for 2005.

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JANUARY 27, 2005
TACA sees stronger eastbound trade, plans to raise rates P&O Nedlloyd leaves U.S. Gulf/East Coast South America service Schubert calls for U.S. officers on LNG carriers Samskip takes delivery of new ship Another Reserve Fleet ship on way to scrap yard Costa hikes terminal handling charges Northwest orders another eight Airbus A330 wide-body aircraft Icelandair group to buy 10 Boeing 737-800 airplanes PBB Logistics acquires UIL, UCS NACA to open data center in southern China FMC reviews applications for OTI licenses DHS urged to address chemical sector, management challenges U.S. transport officials launch regulatory review Vastera adds EU consulting practice ICTSI venture to operate Okinawa terminal Salalah terminal appoints Meester CEO Petroleum survey for Port Everglades

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JANUARY 27, 2005
Swedish officer unions say no to mediators The two Swedish officer unions, Swedish Merchant Marine Officer's Association and the Swedish Ship Officers' Association has turned down an ... Aker Yards orders for NOK 6 billion last year Aker Yards has taken full advantage of the current upturn in the newbuilding market and logged NOK 6.0 billion (EUR ... High oil exports from North Russia Russia ' the world's second oil supplier after Saudi Arabia ' plans to increase exports from the north still further this year ...